Romande Energie Holding (REHN) H2 2025 earnings summary

Executive summary

• Achieved strong financial and operational performance in 2025, rebounding from a weak 2024, with significant investments in grid modernization, renewables, and a reorganization into four business units.

• Advanced sustainability and digitalization initiatives, including early smart meter rollout (81% equipped) and IT upgrades.

• Strategic focus on energy transition, decarbonization, and digital growth, with clear 2030 and 2040 targets.

• Customers benefited from grid investments, smart meter rollout, and remuneration from guarantees of origin.

Financial highlights

• EBITDA reached CHF 152m, up CHF 31m year-over-year (26% increase); EBIT at CHF 48m, up CHF 26m; net profit CHF 80m, up CHF 54m from 2024.

• Adjusted operating revenue fell 5% to CHF 788m due to tariff reductions and lower volumes.

• Cash flow from operations CHF 154m (+CHF 7m); CAPEX CHF 191m (+CHF 28m), mainly for grids and district heating.

• Dividend set at CHF 1.44 per share, yielding 3.3% at year-end.

• Average 5-year EBITDA CHF 148m; average 5-year EBIT CHF 50m; average 5-year cash flow from operations CHF 150m.

Outlook and guidance

• 2030 EBITDA target: 50% increase versus 2024, with property and digital segments as key growth drivers.

• No full-year guidance due to geopolitical and regulatory uncertainties; focus remains on medium- and long-term targets under Strategy 2030.

• Strategic roadmap aims for Western Switzerland to become the first net-zero region in the country.

• Continued focus on recurring revenue, efficiency gains, and digital transformation.